Uzbek parliament approves state budget surplus

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The state budget surplus of Uzbekistan in January-September 2015 amounted to 0.1 percent of GDP (117.5 billion soums), said the message of the information service of the lower house of the parliament of Uzbekistan.

Progress in the execution of the state budget was considered at the next session of the Legislative Chamber of the parliament. MPs approved the execution of the revenue part of the budget at the level of 100.2 percent of the forecast, or 22.4 percent of GDP, expenditures amounted to 22.3 percent of GDP.

Against the background of a significant reduction in the tax burden, single tax payment receipts from the small and micro enterprises increased by 22.9 percent, from the trade and public catering enterprises – by 25.4 percent compared to the same period last year.

Some 58.7 percent of total volume of expenditure part has been allocated to finance social expenditures from the state budget of Uzbekistan.

Some 56.3 percent of social expenditures have been allocated for the maintenance and development of educational institutions.

At the same time, the volume of funds allocated to health care increased by 17.1 percent compared to the same period last year and amounted to 24 percent of social expenditures.

The state budget of Uzbekistan for 2015 was approved by the parliament with a deficit of about 1.8 trillion soums, or 1 percent of the projected GDP, with revenues at the level of 36.2 trillion soums (20.2 percent of GDP) and expenditures worth 38 trillion soums ( 21.2 percent of GDP).

On the results of 2014, the state budget of Uzbekistan was executed with a surplus of 0.2 percent of GDP (305.2 billion soums), according to the ministry of finance of Uzbekistan. Budget revenues amounted to 21.9 percent of GDP (31 trillion 730.5 billion soums), expenditures – to 21.7 percent of GDP (31 trillion 425.4 billion soums).

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